Demand function

Related BrainMass Solutions

• Identification Problem

  For instance if we attempt to know the equation for the demand function and the supply function, the equation we get by regressing quantity on market price cannot be identified as the demand function.

• Finding a linear demand function and maximizing profit

  From these two points a linear demand functions is constructed. You are then asked to find the price that will maximize profit using the linear demand function, the cost function, and the revenue function.

• Inverse, Direct Demand Function, and Point Price Elasticity

  625020 Inverse, Direct Demand Function, & Point Price Elasticity Inverse, Direct Demand Function, & Point Price Elasticity Copy and paste the following data into Excel: a) Run OLS to determine the inverse demand function (P = f(Q)); how much confidence

• Profit Maximization

  First you need to find the inverse demand function. You are given the demand function Q = 400-2P. We can convert this like this: 2P = 400 - Q P = 200 -Q/2 Now you have the price as a function of the quantity produced.

• coefficient on the income variable

  In a _____________ demand function involving price as one of the independent variables, the price elasticity is constant over the entire range of the demand curve.

• how to determine whether a demand function is convex

  215761 how to determine whether a demand function is convex The demand function for Sprint shoes is given by P = 24q + 1200/ q+ 20 q>0 Comment on whether this demand function is concave, convex, strictly concave, or strictly convex.

• Developing a Linear Demand Function

  Let the demand function be Q=a+bP+cI Where P=Price per gallon (in dollars) I=income (in trillion dollars) Q=consumption/demand (million barrels) a,b,c are constants We need to find the values of a,b and c to develop a linear demand function.

• Demand Function, Cost Function

  36302 Demand Function, Cost Function. When x=500 units, is the demand elastic, inelastic, or unit elastic? Determine the production level of x that will minimize the average cost for this product.

• Supply and Demand function from a Supply and Demand Schedule

  93040 Supply and Demand function from a Supply and Demand Schedule Here i demonstrate how to generate a supply and demand function from a data table that includes the supply and demand data for two different price levels.

• Movement along the demand curve and a shift in demand

  So now, if the price is 50, the demand would be 100, and if the price is 75, the demand would be 150 (demand doubled, as we expected). Because the demand function has changed, the demand function has shifted.